Finning International Inc. (TSE:FTT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Finning International Inc. (TSE:FTT) have received an average rating of “Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$48.83.

FTT has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on shares of Finning International from C$48.00 to C$50.00 in a research note on Thursday, August 8th. TD Securities raised shares of Finning International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$43.00 to C$45.00 in a report on Friday, August 9th. CIBC increased their target price on Finning International from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Scotiabank set a C$51.00 price target on Finning International and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada increased their price objective on Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th.

Finning International Stock Performance

Finning International stock opened at C$41.28 on Thursday. The firm’s 50 day simple moving average is C$41.12 and its 200 day simple moving average is C$40.94. The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 113.71. Finning International has a 1-year low of C$33.77 and a 1-year high of C$45.17. The firm has a market capitalization of C$5.76 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55.

Finning International (TSE:FTT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.98 by C$0.04. The company had revenue of C$2.65 billion for the quarter, compared to the consensus estimate of C$2.57 billion. Finning International had a return on equity of 20.14% and a net margin of 4.65%. As a group, analysts expect that Finning International will post 4.244898 earnings per share for the current fiscal year.

Finning International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.10 annualized dividend and a yield of 2.66%. Finning International’s payout ratio is 31.34%.

Insider Buying and Selling at Finning International

In other news, Senior Officer Kevin Parkes bought 2,777 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of C$36.39 per share, with a total value of C$101,055.03. Corporate insiders own 0.10% of the company’s stock.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.